The
provisions of the following new accounting standards were adopted
as of January 1, 2011 and did not have a significant impact on our
condensed consolidated financial statements:
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New
guidelines that address the recognition and presentation of the
annual fee paid by pharmaceutical companies beginning on January 1,
2011 to the U.S. Treasury as a result of U.S. Healthcare
Legislation. As a result of adopting this new standard, we are
recording the annual fee ratably throughout the year in the
Selling,
informational and administrative expenses line item in our
condensed consolidated statement of income.
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An
amendment to the guidelines that address the accounting for
multiple-deliverable arrangements to enable companies to account
for certain products or services separately rather than as a
combined unit.
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